L&T Hydrocarbon wins Rs 1,656 cr contract from ONGC

Engineering major Larsen & Toubro (L&T) today said its wholly-owned subsidiary L&T Hydrocarbon Engineering has won a Rs 1,656 crore contract from ONGC. “L&T Hydrocarbon Engineering Ltd, a wholly-owned subsidiary of Larsen & Toubro, has bagged an offshore contract for the Neelam Re-Development and B173AC project from ONGC valued at 1,656 crore,” the company said i

RCOM gets CCI approval for Aircel merger

Reliance Communications has received an approval of the Competition Commission of India (CCI) for the proposed merger with telecom service provider Aircel, a company statement said here on Monday.

"Reliance Communications has received an approval of CCI for the proposed Scheme of Arrangement for demerger of the wireless division of the company into Aircel Limited and Dishnet Wire

Selling pressure pulls Indian equities lower

 Broadly negative global cues and heavy selling pressure witnessed in IT, banking and metal stocks dragged the Indian equity markets lower on Monday.

The key indices traded in the red during the mid-afternoon trade session, as investors took to book profits.

The wider 51-scrip Nifty of the National Stock Exchange (NSE) fell by 34.35 points or 0.37 per cent to 9,125.70 p

Vodafone, Idea in $23 billion deal to create new Indian telecom leader

By Devidutta Tripathy and Sankalp Phartiyal

MUMBAI - Britain's Vodafone Group and Idea Cellular agreed on Monday to merge their Indian operations in a $23 billion deal, creating the country's biggest telecoms business after the entry of a new rival sparked a brutal price war.

The combined entity would have almost 400 million customers, overtaking mar

Rupee movement, inflows of funds to guide Indian equities

Aiming to retain their psychologically- significant levels, key Indian equity indices will seek direction from the movement of the rupee, influx of foreign funds and global macro-economic data during the trade week starting March 20.

"With no major domestic triggers or events in the coming week, investors should continue to keep an eye on global events and fresh investment b

Adani to finalise Australia coal investment plan by June

MUMBAI  - Adani Enterprises said it would finalise an investment decision by June for its Carmichael coal project in the northern Australian state of Queensland, which has been delayed due to protests from environmental groups.

For more than five years, Adani has battled opposition from green groups who fear the project will produce so much coal for export to Ind

Narendra Modi picks Hindu hardliner Yogi Adityanath to lead Uttar Pradesh

NEW DELHI - Prime Minister Narendra Modi picked Hindu hardliner Yogi Adityanath, who has been accused of inciting violence against India's Muslim minority, to lead Uttar Pradesh after his party won a landslide victory last week.

Adityanath's appointment to lead India's most populous state was denounced by opposition party members.

But officials o

South Korea's POSCO offers to surrender land for planned India steel project

BHUBANESWAR, India - South Korean steelmaker POSCO has asked the eastern state of Odisha in India to take back land it acquired for a $12 billion steel project as it has not been able to start work, two senior state officials said on Saturday.

The move could be a sign that the world's fourth-biggest steelmaker is scrapping the proposed 12 million-tonnes-a-year ste

Reliance Capital to focus on financial services

 Financial services major Reliance Capital Ltd -- part of the Anil Ambani-led Reliance group -- will focus only on financial services while divesting all its non-core investments by March 2018, a top group official has said.

The company will also pursue digital transformation of all its business verticals.

Addressing the analysts here on Thursday, Group Chairman Anil Am

Allahabad Bank raises Rs 300 cr AT-1 capital

 State-run lender Allahabad Bank on Friday said it has raised Rs 300 crore additional tier-one capital through private placement at an annual coupon rate of 11.15 per cent.

The bank had earlier informed that its board approved raising of additional tier-one capital aggregating Rs 1,000 crore through private placement.

"...the bank has on date successfully raised Ad

Tech Mahindra to market Huawei enterprise products globally

 IT major Tech Mahindra and Huawei on Friday signed a global partnership agreement under which Tech Mahindra will market Huaweis enterprise products and services across 44 countries, including in India.

The alliance would also involve launching a joint go-to-market (GTM) strategy, thus giving a boost to the competitiveness of both companies in the global marketplace, by leveragin

NTPC posts record annual power generation at 264 bn units

State-run power generator NTPC registered its highest ever annual cumulative gross generation of 263.95 billion units (BU) till date this fiscal, surpassing the 262.42 BU achieved during 2015-16, an official said on Friday.

"NTPC Group achieved highest ever cumulative gross generation of 263.95 BU till yesterday (Thursday) during the current year, surpassing previous annual best

Intex launches 'Aqua Trend Lite' at Rs 5,690

Domestic handset maker Intex Technologies on Friday launched its new budget smartphone 'Aqua Trend Lite' with high-quality audio.

Designed with a high-grade sound technology -- 1.5 W (Dynamic Type) -- the Rs 5,690 device gives users an optimal music experience on-the-go.

"The Mega Sound Speaker feature has been introduced for users' who enjoy music and want

Welspun India to inaugurate advanced textiles facility, made-ups facility

Welspun India (WIL) said that it will be inaugurating its advanced textiles facility and made-ups facility on March 18, 2017. “The Company's Advanced Textiles Facility and Made-ups Facility will be inaugurated by Hon. Minister of Textiles, Ms. Smriti Irani and Hon. Minister of State – Texties, Mr. Ajay Tamta,” the company said in a filing to the Bombay Stock Exchange.

Airbus says engine issues will not affect A320 NEO deliveries

By Aditi Shah

NEW DELHI - Airbus does not expect deliveries of its A320 NEO jets to be significantly affected by recent problems with the Pratt and Whitney engines, CEO Tom Enders said on Friday.

Enders said that while issues with the engines were "unfortunate" they were teething troubles and Airbus was working with the airlines, the engine maker a

Bandhan Bank inks pact with Avenues India

Bandhan Bank said it has entered into a partnership with Avenues India to help merchants get access to point of sale and payment gateway products, reported PTI. "Our partnership with Avenues gives us the opportunity to offer convenient banking solutions and provide easy access to POS and e-payment gateways for businesses," its managing director and chief executive Chandra Shekhar Ghos

Paytm forays into Canadian market

Alibaba-backed Paytm announced its foray into the Canadian market with the launch of its bill payments service in the North American country, reported PTI. "Users in Canada will now be able to pay for their cell phone, cable, internet, electricity and water bills. In addition to this, users will also be able to pay for their insurance and property taxes by using the new Paytm Canada app,&q

Airbus to set up India office, flight simulator at IGIA

Aerospace giant Airbus will set up its India headquarters and the country's first full flight simulator here to address the growing demand of trained pilots and aircraft maintenance engineers, Delhi International Airport Ltd (DIAL) announced on Thursday.

The GMR Group-led DIAL said in a statement that it has signed a land licence agreement with Airbus for a period till March 31, 2

Nifty hits record highs; set to outperform bonds

MUMBAI - India's broader NSE stock index hit a record high on Friday, as bets on improving earnings and additional economic reforms are fuelling a rally that investors believe will lead equity returns to outpace debt for the first time in two years.

The NSE index, or Nifty, rose as much as 0.7 percent to an all-time high of 9,218.4, marking the third time thi

Reliance General to hive off retail health business

In an attempt to unlock value, Reliance Capital Ltd. on Thursday said its general insurance subsidiary will hive off its retail health insurance business into a stand-alone wholly owned health insurance subsidiary.

In a statement issued here, Reliance Capital part of the Anil Ambani-led Reliance Group said the Board of Directors of its subsidiary Reliance General Insurance Company Ltd

Pennar Engineered bag orders worth Rs 152 cr

Pennar Industries said that its arm Pennar Engineered Building Systems has bagged orders worth Rs 152 crore. “Pennar Engineered Building Systems, a subsidiary of Pennar Industries, has announced receipt of orders from Hetero Drugs, Amplus Energy Solution, MELPL, S G Pharma, Shahi Exports and others of totalling Rs 152 crore,” the company said in a filing to the Bombay Stock Exchange

Megri Soft to acquire 11.67% stake in Kohli & Kohli Financial

Megri Soft said that it has received an approval to invest Rs 25.30 lakh (accounting to 11.67%) in the equity shares of the Kohli & Kohli Financial Consultants. “The Company in their meeting held on March 15, 2017 has decided to acquire/invest Rs. 25,30,000/- (accounting to 11.67%) in the Equity Shares of the Kohli & Kohli Financial Consultants Limited,” it said in a filing

Strong rupee, positive global cues cheer Indian equities

 Positive global cues, a strong rupee and healthy buying in metals, capital goods and consumer durables stocks, brought a cheer to the Indian equity markets on Thursday.

The key indices provisionally closed with gains of more half a per cent each, well absorbing the 25 basis points (bps) rate hike by the US Federal Reserve on Wednesday for the second time in three months.

Food, drink giants plot fightback as India looks to tighten rules

NEW DELHI - Several food and drink multinationals and trade groups met in recent weeks to discuss how to lobby more effectively against Indian proposals for higher taxes and stricter labelling rules on fatty or sugary foods, sources familiar with the talks said.

According to officials, Prime Minister Narendra Modi's administration has begun to look closely at

Coolpad launches Note 5 Lite smartphone in India

Chinese smartphone maker Coolpad on Thursday launched Note 5 Lite smartphone in India that comes with fingerprint sensor.

Priced at Rs 8,199, the device is an Amazon exclusive. It will be available in variants of gold and grey starting via open sale March 21. 

"With the launch of Note 5 Lite, we are again reinforcing our commitment to make technology available to e